Re: [OPE-L] Unequal Exchange "without recourse to the notion of 'value'"?

From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Thu Jan 18 2007 - 09:21:19 EST

> I understand your point, but it's still unclear to me how, if you assume a
> marginalist concept of value (as an expression of intensity of subjective
> preference for a good or service), an economic exchange could be said to
> a trade of unequal values at all - wouldn't it simply be a difference in
> subjective perceptions?

Hi Jurriaan:

That's a problem for dependency theory.  Expressing the problem somewhat
differently, I would say that dependency theory is a form of
yet it also implicitly and/or explicitly assumes basic *marginalist*
The problems then arise because of the limitations of institutionalism and
marginalism and their inability to be successfully wedded to each other.

In solidarity, Jerry

This archive was generated by hypermail 2.1.5 : Wed Jan 31 2007 - 00:00:05 EST